Conservative Daily News » Audit the Fedhttp://www.conservativedailynews.com
The best conservative political news, analysis and opinion articles written by a collection of citizen journalists. Covering a range of important topics in blogs, op-ed, and news posts, these upstanding patriots are bringing back American exceptionalism with every entry..Sun, 01 Mar 2015 18:00:40 +0000en-UShourly1http://wordpress.org/?v=4.1.1Why we need to audit the Fedhttp://www.conservativedailynews.com/2013/01/why-we-need-to-audit-the-fed/
http://www.conservativedailynews.com/2013/01/why-we-need-to-audit-the-fed/#commentsSat, 05 Jan 2013 20:11:11 +0000http://www.conservativedailynews.com/?p=79969Tom Woods, the Senior Fellow at Ludwig von Mises Institute, testifies in the Federal Reserve Oversight Hearing before the House Financial Services Committee on why we need to audit the Fed. As the well-known author put it:

“If you’ve done nothing wrong, you’ve got nothing to worry about.”

]]>http://www.conservativedailynews.com/2013/01/why-we-need-to-audit-the-fed/feed/0Why We Should “Give A Crap” About the Audit The Fed Billhttp://www.conservativedailynews.com/2012/07/why-we-should-give-a-crap-about-the-audit-the-fed-bill/
http://www.conservativedailynews.com/2012/07/why-we-should-give-a-crap-about-the-audit-the-fed-bill/#commentsFri, 27 Jul 2012 03:26:54 +0000http://www.conservativedailynews.com/?p=62471Texas Congressman Ron Paul has won probably the biggest political victory of his three tenures in the House of Representatives with the passage of HR 459. The bill would allow the GAO to do a full audit of the Federal Reserve System, otherwise known as the Central Bank of the United States.

Paul believes the Fed should be audited because of how much cash it churns out and the fact interest rates have stayed low.

He’s long been pushing for this, but the calls grew louder after a 2010 New York Times article revealed the Fed had given out over a trillion dollars to a variety of sources during the 2008 crisis. Banks like Barclays and Citigroup, along with businesses like General Motors and Harley Davidson all received money. Even some foreign central banks, including Britain and Japan, received cash in hopes of keeping the market stable. Several businessmen, including an aide to Treasury Secretary Henry Paulson, all received loans as well.

Without the taxpayers, or Congress, knowing it had been done.

The banks and businesses who received cash were either able to “’take the money and run’ or realize they were being funded by the federal government, instead of their own cash. To quote, of all people, Senate Majority Leader Harry Reid in1995, “it is taxpayers’ money that is being used.” And the taxpayers had no idea this was being done.

This is extremely troubling and something everyone, not just conservatives and libertarians, should be concerned about.

This isn’t a private company, which can, within reason, do what it wants to with its own money. This is the federal government.

The big question is why people should care about this. For one, it’s your money being used. At a time where the U.S. deficit is 15-trillion dollars and showing no sign of stopping, an audit could show how the books are being kept.

Fed chairman Ben Bernanke, and House Minority Leader Nancy Pelosi, may complain this is “politicizing monetary policy,” but I don’t think so. This is the federal government, which should be held accountable by the people.

Peter Schweizert has already detailed how some Congressmen and Senators have used their power to make personal gains from legislation. An audit of the Fed would reveal whether the same thing is being done by either the reserve chair or members of the Federal Open Market Committee.

The solution now is to lobby the U.S. Senate to take action. Which means calling, emailing and writing them. Several times a day if necessary until it comes up for a vote. The legislature is supposed to represent its constituents. Lobbying Senators can show people actually care about an audit being done.

After all, it is your money. And we need to know what it’s being spent on.

]]>http://www.conservativedailynews.com/2012/07/why-we-should-give-a-crap-about-the-audit-the-fed-bill/feed/0How much support did Rep. Paul’s Audit the Fed Bill Get? Check out the Co-sponsorshttp://www.conservativedailynews.com/2012/07/how-much-support-did-rep-pauls-audit-the-fed-bill-get-check-out-the-co-sponsors/
http://www.conservativedailynews.com/2012/07/how-much-support-did-rep-pauls-audit-the-fed-bill-get-check-out-the-co-sponsors/#commentsFri, 27 Jul 2012 03:16:00 +0000http://www.conservativedailynews.com/?p=62464I’ll keep it brief, but Rep. Ron Paul’s Audit the Fed bill (HR 459) garnered significant bi-partisan co-sponsorship showing that his legislation truly crosses party lines. According to Rep. Paul’s government website, this is the list:

Audit the Fed Cosponsors – 112thCongress Bold=Original Cosponsor

Italics = Democrat

1

Mike Coffman

21

Cathy McMorris Rodgers

41

David McKinley

2

Glenn Thompson

22

Mike Simpson

42

Frank LoBiondo

3

Rodney Alexander

23

Adrian Smith

43

Gary Miller

4

Tom McClintock

24

Doug Lamborn

44

Jeff Miller

5

Gus Bilirakis

25

Lamar Smith

45

C. W. Bill Young

6

Spencer Bachus

26

Denny Rehberg

46

Randy Forbes

7

Jason Chaffetz

27

Sue Myrick

47

Scott Garrett

8

Jeff Fortenberry

28

Buck McKeon

48

Jim Gerlach

9

Steven LaTourette

29

Robert Wittman

49

Louie Gohmert

10

Dan Burton

30

Marsha Blackburn

50

Bill Huizenga

11

Bill Posey

31

Kenny Marchant

51

Blaine Luetkemeyer

12

Walter Jones

32

Elton Gallegly

52

Dennis Kucinich

13

Tom Reed

33

Marcy Kaptur

53

Don Young

14

Paul Broun

34

Lynn Woolsey

54

John Campbell

15

Dean Heller

35

Aaron Schock

55

Tom Petri

16

Joe Barton

36

Michael Burgess

56

Roscoe Bartlett

17

Rob Woodall

37

Dennis Ross

57

Lynn Westmoreland

18

Michael McCaul

38

Ken Calvert

58

David Schweikert

19

Dana Rohrabacher

39

Bill Flores

59

James Lankford

20

Leonard Lance

40

Tom Graves

60

Vern Buchanan

61

Justin Amash

81

Thaddeus McCotter

101

Donald Manzullo

62

John Duncan

82

Joe Wilson

102

Michael Michaud

63

Francisco Canseco

83

Tammy Baldwin

103

Mike Rogers (MI)

64

Scott Rigell

84

Tim Johnson

104

Todd Young

65

Rich Nugent

85

Bob Goodlatte

105

Jared Polis

66

Mick Mulvaney

86

Chris Gibson

106

Joseph Heck

67

John Carter

87

Tom Latham

107

Jaime Herrera Beutler

68

Geoff Davis

88

Tom Marino

108

Virginia Foxx

69

Mike Ross

89

Lee Terry

109

Steve Austria

70

David Dreier

90

Lynn Jenkins

110

Cliff Stearns

71

Stephen Lee Fincher

91

Reid Ribble

111

Judy Biggert

72

Tim Walberg

92

Marlin Stutzman

112

Cynthia Lummis

73

Sandy Adams

93

Kurt Schrader

113

Jeff Flake

74

F. James Sensenbrenner

94

Sam Johnson

114

Blake Farenthold

75

Lou Barletta

95

Andy Harris

115

John Conyers

76

Kay Granger

96

Trey Gowdy

116

Tim Murphy

77

Connie Mack

97

Ander Crenshaw

117

Pete Visclosky

78

Mack Thornberry

98

Peter DeFazio

118

Scott Tipton

79

Jason Altmire

99

Morgan Griffith

119

Robert Schilling

80

Joe Walsh

100

Jack Kingston

120

John Kline

121

Sam Graves

141

Raul Labrador

161

Tom Price

122

Tim Griffin

142

Larry Kissell

162

Jim McGovern

123

Michele Bachmann

143

Mike Rogers (AL)

163

Frank Wolf

124

Steve Austria

144

Tom Cole

164

Zoe Lofgren

125

Randy Neugebauer

145

Todd Rokita

165

Maurice Hinchey

126

John Shimkus

146

Dan Benishek

166

Patrick Meehan

127

Rodney Frelinghuysen

147

Mike Kelly

167

Mike Pompeo

128

Wally Herger

148

Kevin McCarthy

168

Peter Roskam

129

Jeff Duncan

149

Charles Boustany

169

Paul Gosar

130

Todd Platts

150

Bill Shuster

170

Kevin Yoder

131

Frank Guinta

151

Michael Turner

171

Candice Miller

132

John Culberson

152

Steven Rothman

172

Phil Roe

133

Jon Runyan

153

Robert Hurt

173

Sean Duffy

134

Cory Gardner

154

Patrick Tiberi

174

Phil Gingrey

135

John Tierney

155

Randy Hultgren

175

Austin Scott

136

John Yarmuth

156

John Sullivan

176

Steve Womack

137

Pete Stark

157

Todd Akin

177

Tom Rooney

138

Tim Huelskamp

158

Peter Welch

178

Dave Camp

139

Robert Latta

159

Jo Bonner

179

Brett Guthrie

140

David Wu

160

Brian Bilbray

180

Tim Scott

181

Vicky Hartzler

201

Ben Quayle

221

Adam Kinzinger

182

Mike Fitzpatrick

202

Jean Schmidt

222

Howard Coble

183

Kristi Noem

203

Mo Brooks

223

Ralph Hall

184

John Barrow

204

Diane Black

224

Collin Peterson

185

Steve Scalise

205

Rob Bishop

225

Daniel Lungren

186

David Loebsack

206

Fred Upton

226

Daniel Webster

187

Allen West

207

Rick Crawford

227

Bill Johnson

188

Michael Grimm

208

Sanford Bishop

228

Mike Pence

189

Frank Lucas

209

Bill Cassidy

229

Paul Tonko

190

Gene Green

210

Steve Pearce

230

Harold Rogers

191

Greg Walden

211

Dan Lipinski

231

Jo Ann Emerson

192

Chip Cravaak

212

Michael Conoway

232

Charles Fleischmann

193

Jeff Landry

213

Ruben Hinojosa

233

Gregg Harper

194

Jackie Speier

214

Alan Nunnelee

234

Shelley Moore Capito

195

Erik Paulsen

215

John Mica

235

Steve King

196

Mark Amodei

216

Bob Gibbs

236

Leonard Boswell

197

Mary Bono Mack

217

Steve Stivers

237

Charles Dent

198

Rick Berg

218

Charles Bass

238

Ben Chandler

199

Jerry Lewis

219

Jim McDermott

239

Jim Jordan

200

Ted Poe

220

Chris Smith

240

Mario Diaz-Balart

241

John Fleming

261

Ann Marie Buerkle

242

Billy Long

262

Pete Olson

243

Scott DesJarlais

263

Brad Sherman

244

Renee Ellmers

264

Hansen Clarke

245

Ed Whitfield

265

Raul Grijalva

246

Duncan Hunter

266

Larry Bucshon

247

Patrick McHenry

267

Doc Hastings

248

Jeff Dunham

268

Chellie Pengree

249

Trent Franks

269

Shelley Berkley

250

Steven Chabot

270

Adam Schiff

251

Richard Hanna

271

Nan Hayworth

252

Ileana Ros-Lehtinen

272

Ed Royce

253

Jeb Hensarling

273

Steven Palazzo

254

Pete Sessions

274

William Owens

255

Robert Aderholt

256

Jim Renacci

257

Bruce Braley

258

Silvestre Reyes

259

Joe Pitts

260

Lloyd Doggett

*sourced site is a government property making this information public domain

And who were in the small minority (1/3 of House members) that voted no?

]]>http://www.conservativedailynews.com/2012/07/how-much-support-did-rep-pauls-audit-the-fed-bill-get-check-out-the-co-sponsors/feed/0Harry Reid in 1995: I Think We Should Audit the Fedhttp://www.conservativedailynews.com/2012/07/harry-reid-in-1995-i-think-we-should-audit-the-fed/
http://www.conservativedailynews.com/2012/07/harry-reid-in-1995-i-think-we-should-audit-the-fed/#commentsThu, 26 Jul 2012 17:06:52 +0000http://www.conservativedailynews.com/?p=62327Yesterday the House of Representatives finally voted on, and passed, Ron Paul’s signature legislation the Audit the Fed bill, by a vote of 327-8. The bill had wide bi-partisan support; 89 Democrats joined all but 1 of the House Republicans in voting for the bill.

Despite the broad bi-partisan support the bill has, it will be dead upon arrival at the Senate, because Senate Majority Leader Harry Reid has vowed not to bring the bill to a vote.

But apparently, that’s not always how Harry Reid has felt about auditng the federal reserve.

Video from 1995 that has recently surfaced shows that at one time, Harry Reid felt very strongly that the Federal Reserve should be audited:

I have sponsored legislation every year that would call for an audit of the Federal Reserve system. I offer that amendment every year, every year it gets nowhere. I think it would be interesting to know about the Federal Reserve. I think we should audit the Federal Reserve — it‘s taxpayer’s money that’s being used there. But we don’t do that.